LOVE CAN GUIDE YOU HOME
If you’ve finally decided to buy property, you shouldn’t settle for a house you can’t call home. On average, it takes a minimum of approximately five years to see real returns on real estate investments. Given that you will likely stay in the home for quite some time, you really cannot afford to settle for a house you don’t love.
Below are a few ways you can use your love for a home to guide you towards making the right investment decision:
It’s not all about the financial returns…
While a property purchase should be viewed as an investment and all factors that could influence the home’s potential for long-term appreciation in value should be considered, you also need to live in it. Ensuring that it fits in with your lifestyle is equally important as its investment potential. You need to consider the experience of living in the home and how it may impact your daily life.
Let your lifestyle guide you home
When deciding if a home is the right fit for you, consider how you intend to use and live in the space. Once you know, you’ll have a good idea if the home is the right fit and if it suits your needs for the period you intend to stay in it. Ask yourself questions such as, what do you like doing on weekends or during the evenings or where do you like to eat? The answers to these questions will help you evaluate whether a home or area is the right fit. It’s about learning to read the house and knowing what you’re looking for.
Don’t settle for a house that can’t grow with you
When buying a house, proper planning prevents future regrets. When you consider the above elements, think long-term. It’s impossible to see the future, but it’s important to consider your aspirations and how things might change over time. Keep in mind that plans change, and your lifestyle requirements could too. A small home might suit your current life stage, but if your plans include growing your family or having your parents move in within the next five to ten years, maybe a home with an extra bedroom or the space to expand is a better option in the long run.
Functionality + Cost + Enjoyment = Love
Consider three main elements when looking at each property you view: functionality, cost, and enjoyment. If a home meets all the requirements, such as the number of bedrooms and proximity to your place of work or schools, then it meets the functionality criteria. Cost is not only the purchase price of the property but also all the other costs involved in the property sale as well as all the day-to-day costs of owning the home. A home meets the enjoyment criteria if it offers what you’d like to get out of living in the home. If a home meets all these criteria, then you know you’ve fallen in love with the right home.
Each person will have different aspects that appeal specifically to them when searching for a house. If you’re nervous that you may not find the home of your dreams, reach out to a professional real estate agent, whose skills include matching the perfect home with the right buyer. If you love the house you buy, you’re purchasing more than just bricks and mortar – you’re buying a home.